The businessman fears it is not just a real-time payments platform, but a “slippery slope” leading to the introduction of central bank digital currency (CBDC).
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“I’m a big fan of FedNow. But I don’t like the fact that it leads to the digital dollar. The entire world is buying U.S. debt, having a big impact on Americans’ standard of living, and if that stops, U.S. citizens will suffer, explained Chekan.
Meanwhile, the trend to move away from the dollar is gaining momentum, with central banks holding fewer reserves in U.S. dollars, favoring gold and other currencies. In addition, there are already about 130 countries exploring CBDC opportunities, and the U.S. doesn’t want to be left out